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Raymond Tusk
| residence = St. Louis | education = | affiliation = | profession = | father = | mother = | siblings = | marital = Married | spouse = Jean Tusk | children = | sigothers = | others = | actor = Gerald McRaney | seasons = 1, 2 | appearances = 2 seasons, 14 episodes | firstseenepisode = Chapter 12 | lastseenepisode = | firstmentioned = | lastmentioned = | gallery = Gallery }} Raymond Alan Tusk is a billionaire industrialist who specializes in nuclear power and owns several nuclear power plants. He is also a close friend & éminence grise of president Garret Walker. Early life Raymond Tusk was born to a middle class family of steel workers. Education and early career After getting a mechanical engineering degree from the Carnegie Mellon University in 1970, Raymond Tusk went on to work in the power generation division of General Dynamics. Within 3 years, Tusk was promoted to junior project manager. Tusk then left General Dynamics to attend University of Pennsylvania's Wharton School of Business. While exposed to world class business executives and professors at Wharton, Tusk became increasingly interested in the realm of investment banking and private equity. With an MBA from Wharton, and a strong technical background in mechanical engineering, Tusk set out on a new path that would one day allow him to build a global firm similar to that of his former employer, General Dynamics. Career The Rise of Raymond Tusk From 1976 until 1980 Tusk worked for Kravis, Kohlberg & Roberts (KKR), the infamous firm that essentially pioneered the business of private equity and leveraged buyouts. KKR helped Tusk develop the strategic abilities he would need to one day be at the helm of North America's largest nuclear energy conglomerate. In 1980, Tusk left KKR, and with the help of contacts he had met in the industry, launched an LBO of his own. His target: Clayton West, a distressed mid-cap energy firm specializing in coal and natural gas. The firm was a victim of terrible management and irresponsible oversight. Upon buying out the remaining shareholders, Tusk replaced the board, taking command as the firm's new CEO. Over the course of the next 20 years, Tusk expanded the business on a massive scale. As the firm's earnings grew, Tusk borrowed on a serial basis. He began acquiring any competition he could find, and at any cost. If the target of his takeover did not accept his tender offer, a hostile takeover ensued instead. By 1990, Tusk had increased Clayton West's market cap from US$450 million to over 12.5 billion. The 1990s brought on increased activism from environmentalists and as a result, further scrutiny against coal producers like Clayton West. Tusk decided that rather than preserve his coal business in the short-term, he would steer Clayton West towards the future of energy, nuclear power and fission power research. Clayton West divested itself from coal exploration and sold off all it's dirty energy arms. In combination with a massive issue of debt, the revenue generated by the firm's liquidation of countless coal divisions provided Tusk with enough cash to launch a full scale switch to nuclear power. Beginning with power plants in the Midwest, Tusk began building his energy empire as never before. At the turn of the century, Clayton West expanded its nuclear business to Asian markets, a region that relied heavily on smog inducing coal power. China was the primary, and largest project of the firm's global expansion. China was also in the middle of political revolution, from communist ideals to managed capitalism. The Chinese's government's exit from business provided the conditions for Clayton West to secure a dominant market share in China's infant, but exponentially growing public economy. By 2005, Clayton West's market cap had increased to an astounding US$90 billion, 30% of which was owned by well grounded CEO, Raymond Tusk. In 2013 and with the 20-yr veteran Tusk at the head, Clayton West reached a market cap of US$150 billion USD, making it the largest nuclear power producer in history. As of 2014, Raymond Tusk has an estimated net worth of US$42.5 billion. Money vs. power: Battling Frank Underwood July 2014 energy crisis After having his attempt at securing an even bigger financial windfall from his Chinese business activities as well as tightening his grip on the President (via organizing a back channel to the May 2014 US-China trade summit) scuttled by VP Underwood, Tusk found himself completely frozen out by President Walker who not too long before that was under the powerful tycoon's complete control. Since the entire summit got cancelled after President Walker's decision to pull out, which itself was brought about by Underwood's cunning and self-serving ploy, the trade relations with China took a big turn for the worse. The price of samarium, a metal imported from China, went up, resulting in the huge spike in energy prices across the United States. Behind the Scenes Raymond Tusk was portrayed by Gerald McRaney in Seasons 1 and 2 of House of Cards. Appearances Category:Characters Category:Recurring Characters Category:Residents of St. Louis Category:Americans Category:Males